Tilray (TLRY) stock soared on Wednesday after the Canadian cannabis company announced earnings for its fiscal third quarter of 2026. The company reported adjusted earnings per share of 2 cents, which was a surprise profit compared to Wall Street’s estimate of -14 cents. It was also a positive shift from the -3 cents reported in the same period of the year prior.
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Tilray also reported revenue of $206.7 million in its latest quarter, which was better than analysts’ estimate of $201.35 million. It also represented an 11% year-over-year increase in revenue. The company noted that cannabis revenue grew 19% to $64.8 million in Q3 due to a 73% increase in international cannabis revenue and an 8% increase in Canadian adult-use and medical cannabis net revenue combined.
Tilray stock was up 5.87% in pre-market trading on Wednesday, following an 8.01% rally yesterday. Even so, the shares have fallen 28.35% year-to-date and 0.68% over the past 12 months.
Tilray Guidance Update
Tilray also provided investors with reaffirmed guidance in its most recent earnings report. The company continues to expect adjusted EBITDA of $62 million to $72 million, representing growth of 13% to 31% when compared to fiscal year 2025.
Irwin Simon, Chairman and CEO of Tilray, said, “With the acquisition of BrewDog, the UK’s leading craft beer brand, and our recently announced partnership with Carlsberg beginning in 2027, we are accelerating the buildout of a scaled global beverage platform. These initiatives broaden our infrastructure, strengthen our brand portfolio, and enhance our distribution capabilities, positioning Tilray to capture growth across key markets in the U.S., Europe, the Middle East, Australia, and Asia-Pacific.”
Is Tilray Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Tilray is Hold, based on one Buy and five Hold ratings over the last three months. With that comes an average TLRY stock price target of $8.97, representing a potential 38.64% upside for the shares. These ratings and price targets will likely change as analysts update their coverage after today’s earnings report.
